George Osborne last night welcomed ‘a resounding vote of confidence’ as finance chiefs in Britain back the government’s economic plan.

A report by Deloitte shows 90 per cent of chief financial officers support the Coalition’s tax policies, up from 75 per cent two years ago, while spending plans are backed by 89 per cent, up from 58 per cent.

The Bank of England’s decision to hold interest rates at 0.5 per cent is even more popular with 97 per cent of finance chiefs describing that level as ‘appropriate’ up from 91 per cent in late 2012.

The survey comes ahead of official figures this week which look set to show the economic recovery was stronger than previously thought – thanks in part to the inclusion of prostitution and illegal drugs adding £10billion a year to gross domestic product.

The Office for National Statistics is expected to reveal that total output in the UK surpassed its pre-recession peak last year rather than in the second quarter of this year.

Rain Newton-Smith, director of economics at the CBI, said: ‘Growth remains robust though, and the recovery is progressing along the right path.’

More...

The recovery in the UK and the US has boosted confidence among finance directors, according to Deloitte, with 72 per cent now saying it is a good time to take risks – three times more than two years ago.

Ian Stewart, chief economist at Deloitte, said: ‘CFOs have become more positive about official policy – from the Government, regulators and the Bank of England. But it’s not all plain sailing for the corporate sector. Political risk has eclipsed worries about the economy as concerns for CFOs.’